Orwin John A 4
4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
First Tracks Biotherapeutics (TRAX) Director John A. Orwin Receives RSU Award
What Happened
John A. Orwin, a director of First Tracks Biotherapeutics (TRAX), was granted a total of 57,000 restricted stock units (RSUs) on May 12, 2026 — 15,000 RSUs and 42,000 RSUs. Each RSU represents a contingent right to one share upon settlement for no consideration; the grants were reported at $0.00 per unit (total reported value $0). These are awards (not open-market purchases or sales) and do not involve immediate cash paid or received.
Key Details
- Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (appears timely under the 2-business-day rule).
- Grants: 15,000 RSUs and 42,000 RSUs; reported price $0.00, total reported cash value $0.
- Shares owned after transaction: not specified in the provided filing.
- Notable footnotes:
- F1: Each RSU converts to 1 common share on settlement for no consideration.
- F2: The RSUs vest 100% on the date of the issuer’s 2027 annual meeting, subject to continued service.
- F3: A stock option (referenced) vests 1/12 monthly beginning June 12, 2026.
- F4: In addition to the options noted, the reporting person holds options to purchase up to 55,181 additional shares that vest per their terms.
- Transaction type: Award/Grant (code A); derivative award rather than exercise/sale.
Context
RSU grants are compensation awards that typically convert into shares on vesting/settlement; they do not indicate an immediate purchase or sale by the insider. The filing also references vested/vesting stock options (monthly vesting starting June 12, 2026) and additional outstanding option capacity, which may affect future insider ownership if exercised or settled.
Insider Transaction Report
- Award
Restricted Stock Unit
[F1][F2]2026-05-12+15,000→ 15,000 total→ Common Stock (15,000 underlying) - Award
Stock Option (right to buy)
[F3][F4]2026-05-12+42,000→ 42,000 totalExercise: $17.81Exp: 2036-05-11→ Common Stock (42,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F2]The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2027 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F3]The stock option vests as to 1/12 of the total shares monthly commencing on June 12, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F4]In addition to the options to purchase a total of 42,000 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 55,181 shares of common stock, which options vest according to their terms.